Rupert Murdoch calls time
If you’ve woken up this morning and the theme music to Succession is tinkering away in your ears it’s because Rupert Murdoch has handed over the keys to his media empire overnight. His eldest son Lachlan will take over as chair of News Corp and continues as the boss of Fox Corporation. But the 92yo isn’t entirely out the door – he will become ‘chairman emeritus’ and will remain “engaged daily with news and ideas,” he says. “We thank him for his vision, his pioneering spirit, his steadfast determination, and the enduring legacy he leaves,” said Lachlan. To say that Murdoch is a divisive figure is an understatement… But overnight, the Australian Financial Review (not a News Corp publication…) noted his “‘illustrious” career (paywall) spanning 7 decades that started at a paper in Adelaide and went on to create a global news and entertainment empire. The share prices of both companies rose a smidge in response to the news.
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